AUD/CAD – 30M – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the ascending trendline down.
A bearish descent downwards to the next support line at 0.88881 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.89411 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bearish SBS White Lines’ candle pattern is existing. The candles form ‘Bearish SBS White Lines’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90032 |
| 2nd High | 0.89899 |
| Next High | 0.89411 |
| Current Price | 0.89361 |
| Next Low | 0.88881 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish SBS White Lines